Barkwell v. Swan
Mississippi Supreme Court
From the chancery court of Yazoo county. Hon. H. C. Conn, Chancellor. In-January, 1887, Mrs. Barkwell sold to one Jay Pettibone, for the sum of $15,000, a herd of cattle, running upon a range in Carbon county, Wyoming. Only a part of the purchase-money was paid, and for the unpaid portion Pettibone executed notes to Mrs. Barkwell, with W. F. Swan as surety thereon.
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From the chancery court of Yazoo county. Hon. H. C. Conn, Chancellor. In-January, 1887, Mrs. Barkwell sold to one Jay Pettibone, for the sum of $15,000, a herd of cattle, running upon a range in Carbon county, Wyoming. Only a part of the purchase-money was paid, and for the unpaid portion Pettibone executed notes to Mrs. Barkwell, with W. F. Swan as surety thereon. Swan took from Pettibone a mortgage upon the herd of cattle as indemnity against loss on account of his suretyship. Swan, being largely indebted to other persons, on the 28th •day of April, 1888, executed a conveyance of a large…
1Opinion of the CourtWoods, J.
1. The transfer of the mortgage made by Pettibone to Swan, and its acceptance by Mrs. Barkwell, did not operate to pay the debt thereby secured. We think it clear that this mortgage security was available to Mrs. Barkwell for the payment of the debt due her.
*915We do not agree that, by the course of dealing with the property mortgaged, Mrs. Barkwell is to be held to have relinquished all demaud for any. deficiency in the sum realized by sale of the property. The improper or negligent conduct of Mrs. Barkwell in dealing Avith the property after the transfer of the mortgage security to her, if such…
2Cases cited2 opinions
- Henderson v. DowningCourt of Appeals of Mississippi · 1852
- Clopton v. SprattMississippi Supreme Court · 1876
3Cited by7 opinions
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- United States Casualty Co. v. MaloneMississippi Supreme Court · 1921
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